REUTERS. French group Societe Generale is forging on the basis of Russia-based Rosbank a lender with equity of at least Rub 80 bln. “Rosbank’s equity will be at least doubled and the merger with BSGV will begin taking into account this issue. The merged bank’s equity will be at least Rub 80 bln," Rosbank first deputy board chairman Igor Antonov told Reuters.
Last week Societe Generale and Interros announced a merger of Russian banking assets (Rosbank and BSGV). The merged structure could become the largest private bank in the Russian Federation.
At the beginning of 2010 Rosbank’s assets were in excess of Rub 482 bln and BSGV had over Rub 152 bln in assets. Right now in terms of assets Rosbank ranks higher than subsidiaries of Italy’s Uniсredit Group and Austrian group Raiffeisen.
